Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0214%/8h= −23.4% APRpaid last 24h −0.052%

Price spread now: MEXC against Coinbase International+0.114%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.344%−$34 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now +0.114%, 7d avg +0.030%

Together, before fees−0.483%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.084% dearer against Coinbase International than usual: you sell high and buy low (spread +0.114% now, against its 7-day average of +0.030%): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PAXG-PERP-INTX	4,322.2	0.0224	pay 0.0028% / 1h	38m 58s	$949K	$1.0M	50x
Short	MEXC PAXG_USDT	4,327.1	0.0010	get 0.0005% / 4h	38m 58s	$16.7M	$1.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now +0.114%Rate

Funding earned: −$44.94
Price spread: +0.114% → +0.030%: $8.41
Slippage, 4 orders: −$10.22
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$60.74
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; MEXC: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 4 min ago	2.23 bp	7.2 bp −$7	9.7 bp −$97	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.03 bp	4.7 bp −$5	19.3 bp −$193	49.6 bp −$4,958	127.7 bp −$63.8K

PAXG on 29 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PAXG	−0.0176%	1h	4,319.8	−0.056%	$1.4M	$482K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0104%	4h	4,323.3	+0.026%	$1.5M	$2.0M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0096%	1h	4,323	+0.018%	$41K	$168K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,322.3	+0.003%	$1.2M	$1.8M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,321.4	−0.017%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,323.7	+0.035%	$15.6M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,318.1	−0.094%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,325.6	+0.079%	$7.9M	$659K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,325.7	+0.083%	$903K	$783K	75x	as long as short
MEXC PAXG_USDTshort	+0.0010%	4h	4,327.1	+0.114%	$16.7M	$1.0M	100x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PAXGUSDT	+0.0012%	4h	4,321.2	−0.022%	$79.7M	$74.0M	75x	as long as short
Extended PAXG-USD	+0.0016%	1h	4,320	−0.050%	$376K	$1.6M	25x	as long as short
Aster PAXGUSDT	+0.0021%	4h	4,321.9	−0.007%	$902K	$29K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.581%	$1K	$151K	30x	as long as short
Bitget PAXGUSDT	+0.0078%	4h	4,321.5	−0.016%	$9.4M	$15.9M	50x	as long as short
ApeX Omni PAXGUSDT	+0.0081%	1h	4,322.3	+0.003%	$262K	$775K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0098%	8h	4,320.7	−0.034%	$85K	$3.4M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,321.4	−0.018%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,321.9	−0.006%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,323.7	+0.035%	$1.0M	$303K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,321.9	−0.006%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,323.5	+0.031%	$28.7M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,322.6	+0.010%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,321.9	−0.006%	$1.3M	$818K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,322.2	+0.001%	$12.3M	$223K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,323	+0.019%	$1.5M	$52K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,320.6	−0.036%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXlong	+0.0224%	1h	4,322.2	long leg	$949K	$1.0M	50x
01 Exchange PAXGUSD	+0.0896%	1h	4,333.1	+0.253%	$29K	$23K	10x	as long as short